PreveCeutical Medical announces $3.28M fully subscribed private placement

PreveCeutical Medical



News Release

PreveCeutical – Announces $3.28 Million Fully Subscribed Private Placement

Vancouver, British Columbia: PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”) (CSE: PREV, OTCQB: PRVCF, FSE: 18H), announces a fully subscribed non-brokered private placement (the “Financing”) of up to 4,377,776 units (each, a “Unit”) at a price of $0.75 per Unit to raise gross proceeds of $3,283,332. Each Unit will consist of one common share of the Company and one warrant, with each warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of $0.90 per share for a period of 6 months from the closing of the Financing (the “Closing”) and thereafter at an exercise price of $1.00 per share until the expiry of the period ending 12 months from the Closing. The Closing is expected to occur on or about December 8, 2017. The common shares and warrants comprising the Units will be subject to a hold period of four months and one day in Canada.

The proceeds of the Financing are intended to be used to fund the Company’s research and development programs and for general working capital purposes. The Company may pay finder’s fees on a portion of the Financing equal to 10% of the gross proceeds raised, payable in cash and/or securities, as the Company in its sole discretion may determine and in accordance with the policies of the Canadian Securities Exchange (the “CSE”). The Financing is subject to CSE and other applicable stock exchange and regulatory approval.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States, or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any United States state securities laws, and may not be offered or sold in the United States or to the account or benefit of a “U.S. person” (as defined in Regulation S under the 1933 Act) or a person in the United States absent registration or an applicable exemption from the registration requirements.

About PreveCeutical

PreveCeutical Medical Inc. is a health sciences company that develops innovative preventive therapies utilizing organic and nature identical products.

PreveCeutical aims to be a leader in preventive health sciences and currently has five Research and Development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; a Sol-gel platform for nose to brain delivery of medical compounds including cannabinoids; Nature Identical™ peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).

PreveCeutical sells CELLB9®, an Immune System Booster. CELLB9 is an oral solution containing polarized and potentiated essential minerals extracted from a novel peptide obtained from Caribbean Blue Scorpion venom.

For more information about PreveCeutical, please visit
www.PreveCeutical.com, follow us on Twitter:
http://twitter.com/PreveCeuticals and Facebook:
www.facebook.com/PreveCeutical.

On Behalf of the Board of Directors

“Stephen Van Deventer”
Chairman & CEO

For further information, please contact:

Deanna Kress
Director of Corporate Communications & Investor Relations
+1-778-999-6063
deanna@PreveCeutical.com